The long-standing dining destination in downtown Minneapolis is set to close after serving lunch on Saturday. The restaurant has operated in three different locations in downtown Minneapolis since 1914.

Peter’s Grill was likely the only restaurant in town to feature egg salad and olive, liver sausage and open-faced King Oscar sardine sandwiches on its menu. The long-standing dining destination in downtown Minneapolis is set to close after serving lunch on Saturday. The restaurant has operated in three different locations in downtown Minneapolis since 1914.

“Peter’s Grill is a landmark,” said owner Peter Atsidakos on Friday morning.

The restaurant is located at 118 Eighth St. S. on the first floor the U.S. Trust Building, part of the four-building Baker Center block.

Atsidakos said he noticed that business began to decline in May 2012, and he laid some of the blame on newly popular food trucks that park not far from his restaurant along Marquette Avenue.

“My business started going down, down, down,” said Atsidakos, a nephew of original founder Peter Atcas.

The restaurant’s approach to comfort food was a throwback to another era. It was a draw for an older generation of Minneapolis politicians, lawyers and business players. In 1995, President Bill Clinton famously stopped at the restaurant and ordered a Canadian bacon and egg sandwich.

Plans for the 7,200-square-foot space are not yet clear. Atsidakos said that he is in discussions with “three ladies” with restaurant business experience who would operate a different concept in the space. He declined to say more, noting that negotiations continue.

A representative of the Minneapolis office of Houston-based Transwestern, which leases and manages Baker Center, could not be reached for comment. Finance & Commerce is located in the same building as Peter’s Grill.